Water-based coatings are a type of coating which use water as a solvent. Water is employed as a dispersal agent for resins to make them eco-friendly and easy to use. Water constitutes more than 75% of the coatings with traces of other solvents like glycol ethers. Rising architectural activities and stringent government regulation related to VOC content are the major drivers that drives the growth of water-based coatings market. Asia Pacific dominates the water-based coatings market in terms of demand. Countries such as China, India are expected to be the key consumers of water-based coatings. Volatility in raw material prices and susceptibility to environmental conditions is anticipated to hamper the market growth.
Acrylic water-based coatings is anticipated to be the major segment during the forecast period, however polyurethane water-based coatings is expected to grow at highest CAGR compare to other resins type. In terms of end-use, building & construction is projected to be the major segment for water-based coatings. Automotive segment is also second most lucrative segment for water-based coatings market. Increasing awareness and stringent government regulations related to VOCs content related to coatings is estimated to offer major opportunities to the water-based coatings market in the next few years.
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Global Waterbased Coating Market: Scope of the Study
This report analyzes and forecasts the market for Water-based coatings market at the global and regional level. The market has been forecast based on volume (Kilo tons) and revenue (US$ Mn) from 2016 to 2024, considering 2015 as the base year. The study includes drivers and restraints of the global water-based coatings market. It also covers impact of these drivers and restraints on demand for water-based coatings market during the forecast period. The report also highlights opportunities in the water-based coatings market at the global and regional level.
The report includes detailed value chain analysis, which provides a comprehensive view of the global water-based coatings market. Porter’s Five Forces model for the water-based coatings market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, where in resins and end-users are benchmarked based on their market size, growth rate, and general attractiveness.
Global Waterbased Coating Market: Segmentation
The study provides a decisive view of the global water-based coatings market by segmenting it in terms of resins and end-users. In terms of resins water-based coatings is classified as acrylic, formaldehyde, polyurethane, alkyds, epoxy and others (including fluoro-polymers etc.). Acrylic water-based coatings is further segmented into Styrene acrylic. Further segmentation is based on End-users such as building & construction, automotive, furniture, electronics, marine, paper & printing and others (includes aerospace etc.). Automotive is further segmented into automotive OEM and automotive refinish for analysis. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for Water-based coatings in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides the actual market size of water-based coatings for 2015 and estimated market size for 2016 with forecast for the next eight years. The global market of water-based coatings has been provided in terms volume and revenue. Market volume has been defined in Kilo tons and revenue in US$ Mn. Market numbers have been estimated based on resins and end-users of water-based coatings. Market volume and size have been provided in terms of global, regional, and country level markets.
Global Waterbased Coating Market: Research Methodology
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represented the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, Internet sources, magazines and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, European Coatings World, and external proprietary databases, and relevant patent and regulatory databases such as ICIS, Hoover’s, oneSOURCE, Factiva and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market.
We conduct primary interviews on an ongoing basis with industry participants and commentators to validate data and analysis. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
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Companies Mentioned in the Report
The report comprises profiles of major companies operating in the global Water-based coatings market. Key players in the Water-based coatings market are BASF SE, Akzo Nobel N.V., Asian Paints, Axalta Coating Systems Ltd., Altana AG, Conren, ICA group, Schmid Rhyner AG, PPG Industries Inc., The Valspar Corporation, Sherwin-Williams, Kansai, NIPSEA Group, and Hebei Chenyang Industry & Trade Group Co., Ltd. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The global water-based coatings market has been segmented as follows:
Water-based Coatings Market – Resins Analysis
o Styrene Acrylic
• Others (fluoro-polymers etc.)
Water-based Coatings – End-use Analysis
• Building & Construction
o Automotive OEM
o Automotive refinish
• Paper & Printing
• Others (Aerospace etc.)
Water-based Coatings – Regional Analysis
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
o Rest of South America
• Middle East & Africa (MEA)
o South Africa
o Rest of MEA
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